Solana Co-A 2026年季度报告

As of May 12, 2026, the registrant had 58,386,675 shares of ClassA common stock, $0.001 par value per share, outstanding. SOLANA COMPANYINDEX Part I.Financial Information Item 1.Condensed Consolidated Financial Statements PART I. FINANCIAL INFORMATIONITEM 1. Condensed Consolidated Financial Statements Solana CompanyCondensed Consolidated Balance Sheets Solana CompanyUnaudited Condensed Consolidated Statements of Operations and Comprehensive Loss Table of Contents Solana Company Notesto Unaudited Condensed Consolidated Financial Statements 1.OVERVIEW Background and Nature of Business Solana Company (the “Company” or “we”) is a listed digital asset treasury (“DAT”) dedicated to acquiringand holding Solana tokens (“SOL”). Solana Company’s DAT objective is to maximize SOL per sharethrough strategic use of capital markets and on-chain opportunities, offering public market investors direct Liquidity and Management’s Plans The accompanying unaudited condensed consolidated financial statements of this Quarterly Report onForm 10-Q (“10-Q”) have been prepared assuming the Company will continue as a going concern, whichcontemplates, among other things, the realization of assets and satisfaction of liabilities in the ordinarycourse of business. The Company had an accumulated deficit of $312.4 million and working capital of$25.0 million at March 31, 2026, incurred a net loss of $99.8 million and used $4.8 million of cash in The Company’s financial condition is substantially dependent on the market price and liquidity of SOL,which are subject to extreme volatility and limited trading venues. Substantially all of the Company’streasury assets are concentrated in SOL, the native cryptocurrency of the Solana protocol, or exposed toSOL indirectly. SOL has experienced significant price volatility, and the Company’s financial results andcarrying value of its digital assets, digital assets, restricted, digital assets receivable and digital asset fundinvestment will fluctuate materially based on SOL price movements. The Company depends on thecontinued success and adoption of the Solana protocol for the value of its treasury holdings. While the 2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared inaccordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”)for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X.Accordingly, they do not include all of the information and disclosures required by U.S. GAAP forcomplete financial statements. In the opinion of management, such statements include all adjustments(consisting only of normal recurring items) which are considered necessary for a fair presentation of theunaudited condensed consolidated financial statements of the Company as of March 31, 2026 and for thethree months ended March 31, 2026 and 2025. The results of operations for the three months ended March Table of Contents Accounting Estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAPrequires management to make estimates and assumptions that affect the reported amounts of assets andliabilities at the date of the financial statements and the reported amounts of revenues and expenses during Reclassifications Certain amounts recorded in the prior period consolidated financial statements have been reclassified toconform to the current period financial statement presentation. These reclassifications had no effect on Reverse Stock Splits On April 21, 2025, at the annual meeting of stockholders the stockholders of the Company approved apotential reverse stock split at a ratio of 1-to-2to 1-to-30. The Board subsequently approved a reverse On May 23, 2025, at a special meeting of stockholders the stockholders of the Company approved apotential reverse stock split at a ratio of 1-to-2to 1-to-250. The Board subsequently approved a reversestock split of 1-for-50, which became effective on July 1, 2025 (the “July 2025 Reverse Stock Split” and All issued and outstanding Class A common stock and per share amounts contained in the consolidatedfinancial statements have been retroactively adjusted to reflect the Reverse Stock Splits for all periodspresented. In addition, a proportionate adjustment was made to the per share exercise price and the numberof shares issuable upon the exercise of all outstanding stock options and warrants to purchase shares of result of the Reverse Stock Splits was rounded down to the next whole share and stockholders receivedcash settlement equal to the market value of the fractional share, determined by multiplying such fractionby the closing sales price of the Company’s Class A common stock as reported on Nasdaq on the last Treasury Stock The Company accounts for treasury stock using the cost method. Table of Contents Segment Informat